HP ousts Apotheker as CEO, brings in ex-eBay chief

Hopes to restore investor confidence

HP has announced that it has ousted its controversial CEO Leo Apotheker and replaced him with the ex-CEO of eBay, Meg Whitman.

There were rumours abound that the board at HP were not happy with where Apotheker had taken the company, with his announcement last month that HP would be ducking out of the hardware business and putting most of its focus on software.

This revelation did not sit well with investors, with HP's share price dropping 47 per cent at the time.

Execution orientation

Bloomberg had hinted this week that the board had met up to discuss the future of Apotheker and said that Whitman was in line for the job if he were to be replaced.

This has turned out to be the case with Whitman saying about her hiring: "What I bring to this table is leadership, management skills, strategic vision, communications and an execution orientation to deliver the result."

There's no word on how Whitman will bring better results to HP, but we've a feeling that we haven't seen the last of the company in the hardware sector.

And, as for the HP TouchPad, don't be surprised if it graces shelves again soon.